Many of the important international governmental institutions that deal with the global economy have their roots in the Bretton Woods conference at the end of World War II

The additional costs you expect to incur if you undertake an activity and the additional benefits you expect to receive if you undertake an activity are called ________ costs and benefits

Fill in the blank(s) with correct word

Fred is considering opening a ski shop in Colorado. Assume Fred will incur the following costs: building rent = $100,000/year, inventory = $250,000/year, energy = $50,000/year, and labor (one clerk) = $10,000/year

In addition, Fred's current income as a computer programmer is $40,000 per year. Assuming Fred would earn $460,000 in revenues, he could expect to earn: A) an accounting profit of $10,000 per year. B) an accounting profit of $60,000 per year. C) an economic profit of $10,000 per year. D) an economic profit of $50,000 per year.